Mah Sing Group Bhd emerged the most actively traded counter in the early session today following reports on its listing proposal.
At 9.30am, the company's shares rose 12% or 11 sen to RM1.05 with more than 92 million units of shares exchanging hands.
In a report yesterday, Group Founder and Managing Director Tan Sri Leong Hoy Kum said the company aimed to list its glove manufacturing and business arm, Mah Sing Healthcare Sdn Bhd on the Hong Kong Stock Exchange within five years.
“We are committed to being a long -term player and providing greater value to our shareholders as well as striving to emerge as one of the leading glove makers in the industry.
"We are also looking into the possibility of listing our manufacturing division separately from the group to further unlock its value," he said as reported by Bernama.
Mah Sing is targeting the Hong Kong market as the capitalization of companies there is almost 15 times that of Bursa Malaysia.
Executive Director of Corporate and Investment, Datuk Steven Ng Poh Seng said, in terms of turnover, the Hong Kong market was almost 20 times more likely to merge and acquire as well as obtain business contracts due to its position as an international market.
Mah Sing also announced that the testing and commissioning of the first two glove production lines at its first glove manufacturing plant is also now complete.
The operation is expected to begin next month and the first delivery of the gloves may be made within the next two months.
